What Is A Custodial Agreement?

The role of a custodian is diverse: the safekeeping of assets such as equities and bonds; the settlement of any purchases and sales of such securities; and the distribution of income from such assets.

The custodian is the financial institution responsible for safeguarding a firm’s or an individual’s financial assets. If you have a retirement plan, then you have a custodian. These institutions do not “own” your account — they are trustees of assets that are held in your name. These assets may include cash, bonds, mutual fund shares and stocks.

WHY YOU SHOULD CARE
Your custodial agreement sets the rules by which you will accumulate your savings balance and how that savings balance will later be distributed to you and/or your heirs. Unfortunately, a custodial agreement can often be a hefty contract full of legalese. Few IRA owners ever take the time to fully review the provisions and exceptions in these critical documents. As a result, you may be surprised to learn that when you die a heavy tax bill may be owed to the IRS, reducing the amount received by your heirs!

A SOLUTION IS AVAILABLE
Your retirement distribution professional can help you create an IRA distribution strategy that call help
protect your nest egg from excessive and needless taxation. A comprehensive review of your custodial agreement is a crucial step in determining whether your IRA will be unnecessarily taxed by the IRS.

Federal and state insurance and securities rules and regulations prohibit registered representative(s) and/or investment adviser representative(s) from soliciting, offering and selling any insurance or securities products or providing investment advice until they are properly registered and licensed in each state jurisdiction.

The registered representative(s) and/or investment adviser representative(s) listed on this website are licensed and registered in the following states:

We are licensed to sell Insurance Products in AZ,CA,MD,MO.

We are registered to sell Securities in AZ,CA,HI,KY,MD,MO,NC,NV,OK,OR,PA,TX,UT,VA,WA.

Federal and state insurance and securities rules and regulations prohibit registered representative(s) and/or investment adviser representative(s) from soliciting, offering and selling any insurance or securities products or providing investment advice until they are properly registered and licensed in each state jurisdiction.

Lance Pelky & Associates, Inc. is not a subsidiary of or controlled by Voya Financial Advisors, Inc.Due to various state regulations and registration requirements concerning the dissemination of information regarding investment products and services, we are currently required to limit access of the following pages to individuals residing in states where we are currently registered. A Broker/Dealer, Registered Investment Adviser, Registered Representative or Investment Adviser Representative may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if they are excluded or exempted from the states Broker/Dealer, Registered Investment Adviser, or Registered Representative or Investment Adviser Representative requirements, as the case may be; and follow-up, individualized responses to consumers in a particular state by Broker/Dealer, Registered Investment Adviser, Registered Representative or Investment Adviser Representative that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the states Broker/Dealer, Registered Investment Adviser, Registered Representative or Investment Adviser Representative requirements, or pursuant to an applicable state exemption or exclusion.

For information concerning the license status or disciplinary history of a Broker/Dealer, Registered Investment Adviser, Registered Representative, or Investment Adviser Representative, a consumer should contact his or her stated securities law administrator.